Oil’s record start to 2021 was under pressure from a selloff in bond markets that spooked risky assets. While crude futures declined on Friday, global benchmark Brent has rallied to its best-ever Continue Reading
Oil climbed to the highest in more than a year amid optimism of swiftly depleting global oil inventories. Futures in New York closed 0.5% higher on Thursday. The oil futures curve Continue Reading
Oil price revisions started cautiously: some banks saw Brent crude averaging $65 a barrel this year, and others, of a bolder nature, predicted that the oil benchmark could climb to Continue Reading
The Gulf Stream system has weakened to its slowest pace in more than a thousand years, according to scientists, as global warming makes the powerful ocean current that controls much Continue Reading
A growing body of evidence suggests that a massive change is underway in the sensitive circulation system of the Atlantic Ocean, a group of scientists said Thursday. The Atlantic meridional overturning Continue Reading
Nigeria is losing an average of 200,000 b/d of its crude oil production to theft, state-owned Nigerian National Petroleum Corp. said Feb. 25, indicating a surge in pipeline sabotage in Continue Reading
To great fanfare, Chinese leader Xi Jinping on Thursday declared his country’s “complete victory” over extreme poverty. In an hour-long speech delivered from the Great Hall of the People in Continue Reading
Reeling from the effects of the pandemic, the oil industry is in no mood to fool around. When newly inaugurated President Joe Biden canceled the Keystone XL pipeline project, refiners Continue Reading
About a month ago, BlackRock Inc. the world’s largest asset manager with $9 trillion in assets under management (AUM), sent shockwaves through the fossil fuel sector after it vowed to Continue Reading
As extreme weather conditions wreak havoc on America’s largest energy producing states, can they continue to provide for their citizens? The combination of climate change and aging infrastructure could soon Continue Reading
Natural gas production in Texas collapsed by 45 percent during the cold snap last week, primarily due to freeze-offs, the Energy Information Administration (EIA) said on Thursday, citing estimates from Continue Reading
Exxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history. The supermajor reported reserves totaling 15.3 billion barrels Continue Reading
Nuclear power generation is necessary for the world to have cleaner energy solutions, although nuclear has yet to convince naysayers who generally associate it with Chernobyl or nuclear weapons, according Continue Reading
The chief executives of the biggest airlines in the United States are set to meet virtually with the White House National Climate Adviser and an economic adviser to the President Continue Reading
Highlights Prices retreat following epic winter storm Production rebounds quickly following freeze-offs The US natural gas storage industry posted its second-largest draw on record last week, but the Henry Hub Continue Reading
Highlights Permian operators add 5 rigs week on week Potential DAPL shutdown widens Willison-Clearbrook spreads EcoPetrol to triple Permian investment The US oil and gas rig count stood steady at Continue Reading
Texas, the fossil fuel center of the US, was let down by its natural gas delivery system during last week’s energy crisis, according to the head of the country’s top Continue Reading
Pfizer Inc. PFE 0.21% and BioNTech SE BNTX -1.61% have begun a study testing in people whether the companies’ Covid-19 shot can provide protection against emerging strains of the coronavirus. The companies said Thursday they have started the small Continue Reading
The number of Americans seeking unemployment benefits fell sharply last week in a sign that layoffs may have eased, though applications for aid remain at a historically high level. Jobless Continue Reading
QuantumScape Corp., an electric-vehicle-battery startup, soared as much as 12% in late trading after saying it cleared a key hurdle in the development of its technology. The company, which is attempting Continue Reading
France’s nuclear safety authority agreed Thursday to extend the operational lifetime of the country’s 32 oldest nuclear reactors by a decade to as much as 50 years. The public electricity Continue Reading
Some 14.7 GW of wind power capacity were installed in Europe last year, down 6% on 2019 and 19% below forecast, sector association WindEurope said Feb. 25. Not registered? Receive Continue Reading
EU leaders vented frustration over sluggish deliveries of coronavirus vaccines and manufacturing delays as anxiety rises over the rapid spread of new variants. The bloc’s presidents and premiers expressed their fears Continue Reading
France’s national hydrogen council has presented initial plans for 3.2 GW of large-scale electrolysis capacity to key ministers, the council said Feb. 25. The projects, which require some Eur8 billion Continue Reading
Crude oil futures ticked higher during midmorning trade in Asia Feb. 25 as the market overlooked bearish data from the US Energy Information Administration to focus on optimism over declining Continue Reading
Oil extended gains from its highest close in more than a year on a slump in U.S. oil inventories and a broader lift to the reflation trade taking place across Continue Reading
Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay Continue Reading
While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel. Azerbaijan’s Continue Reading
Oil surged to the highest in more than a year as the market looks ahead toward an accelerating decline in global inventories and a comeback in demand. Futures in New Continue Reading
Oil prices climbed on Wednesday to fresh 13-month highs after U.S. government data showed a drop in crude output after a deep freeze disrupted production last week. U.S. crude oil Continue Reading
A planned overhaul of how the world’s most important benchmark crude price is calculated has caused a surge in trading of swaps used to hedge North Sea oil prices. From next Continue Reading
Little more than a year after a Joint Development Project (JDP) to develop an ammonia-fueled tanker design was launched by LR, MISC Berhad, MAN Energy Solutions and Samsung Heavy Industries Continue Reading
The COVID-19 crisis has accelerated the timeline of peak oil demand while government policies to build back better and greener are speeding up the energy transition, major oil companies and Continue Reading
The world faces two possible futures: one in which all nations band together to bring covid-19 under control, and another in which the wealthiest countries emerge from the pandemic but Continue Reading
Oil prices have rallied since the start of this year, pushed up by the OPEC+ cuts tightening the market and the vaccine rollouts. Analysts and industry leaders have already called Continue Reading
OPEC+ will discuss the possibility of increasing its oil production levels at the next meeting, OPEC+ sources told Reuters on Wednesday. The group is set to meet on March 4, Continue Reading
Iraq is willing to spend the money needed to buy coronavirus vaccines, but global supply availability is hampering its efforts to begin inoculating citizens against covid-19. More than 1.5 million Continue Reading
India has unveiled a national hydrogen mission to accelerate plans to generate the carbon-free fuel from renewables, but analysts said that green hydrogen will struggle to compete with fossil fuel Continue Reading
India announced an expansion of its COVID-19 vaccination program on Wednesday but warned that breaches of coronavirus protocols could worsen an infection surge in many states. Nearly a month after Continue Reading
Venezuela and Iran, both sanctioned by the United States, have found a way to help each other as shipping companies stay away from dealings with the two oil-producing countries for Continue Reading
The ruling Communist Party is celebrating the official end of extreme poverty in China with a propaganda campaign that praises President Xi Jinping’s role, part of efforts to cement his Continue Reading
Hyundai Motor Company recently signed a memorandum of understanding (MOU) to work with the South Korean government as well as logistics, battery and mobility companies to demonstrate the electric vehicle Continue Reading
CNOOC’s oil rig in China’s Bohai Sea © Reuters That makes Bozhong 13-2 one of the biggest crude oil production bases in the country, according to the company. The new Continue Reading
Several major financial firms have upped their forecasts for U.S. economic growth based on expectations that President Joe Biden’s proposed $1.9 trillion COVID-19 relief bill will come to fruition and Continue Reading
One in every seven Texas gas stations is without fuel a week after the historic freeze crippled refineries and trucking, prompting at least one major retailer in the second-largest U.S. Continue Reading
At first, Amanda Fuller thought she was one of the lucky ones. Then the water stopped running. As Texas started dipping into single-digit temperatures overnight Sunday, power companies began instituting Continue Reading
Oil prices have staged an extraordinary rally in the last three months, rising by 50%. Biden’s presidency, the vaccine rollout, a weak dollar, low interest rates, no inflation, and hopes Continue Reading
The Bureau of Ocean Energy Management has issued a lease for the first wave energy research project in federal waters off the U.S. West Coast. The Bureau of Ocean Energy Continue Reading
Past presidents—even progressive ones—have viewed climate change as a problem for the future. President Barack Obama, for example, “took the view that climate change was a moral issue,” said Jeff Continue Reading
Almost half of Electric Reliability Council of Texas generation capacity – 52.3 GW in all — was forced out at the highest point during the winter storm starting Feb. 14, Continue Reading
